NIFTY 50 Approaching Resistance – Watch for Breakout or Reversal

Nifty 50 is trading at 25,175, staying strong inside a rising parallel channel since early April. Price action is consolidating just below the key resistance zone at 25,301, which is also the upper boundary of the channel.

Key Levels:

🔼 Resistance Levels:

25,301 – Immediate resistance (channel top)

25,500+ – Possible breakout target if channel is breached

🔽 Support Levels:

24,700 – Channel midline and recent support

24,080 – 50-day moving average

22,792 – Previous major swing low

21,810 – Strong horizontal support zone

Indicators:

MACD is turning bullish again after a minor pullback, hinting at a possible continuation.

Volume has slightly decreased, signaling caution near the top.

Price is above both the 50-day and 200-day moving averages, supporting the bullish structure.

Conclusion:

Nifty is at a crucial juncture. A breakout above 25,301 could trigger further upside momentum, while failure to break may lead to a healthy pullback toward support zones. Keep a close eye on price action near the channel resistance for confirmation.